Oanda Review

I have been with Oanda for a close 8 months now and I have some observations and concerns that I would like to voice. I am uncertain if I am the only one experiencing this problem or if any other traders experience similar issues as myself.

I have a major problem with the platform getting disconnected from time to time for no valid reason. Everything was fine until I tried entering a favorable trade. I was in profit of about 20 pips or so when the server got disconnected. When connection resumed, it was at a loss. With that, I contacted a live representative from Oanda and explained my situation in detail. She told me that there wasn't no connection problem and said that the problem was most probably from my side. She further told me to clean my cache. This is the usual kind of answer I get from platforms that do not want to take responsibility. I further explained that I was running other platforms at the same time with no problem with my server on their part. I demanded for a refund but was turned down. Needless to say, I was disappointed big time.

In general, the execution is alright provided the platform works. I have no problems with deposits or withdrawals and that is one of the plus points here. The charts are quite easy to read and helpful at times. When it comes to spreads, Oanda actually offers quite a good spread with the exception of news time.

Looking back at my experience with Oanda, I think all is generally ok and fair except for the platform issues and the horrible customer support. I have heard that there is a possibility of the platform getting fixed but I have yet to see it executed yet. I have at present put all trading on a hold until the platform gets fixed at least. It would be frustrating if I cannot exit a trade when I am in a profitable position.

In addition, Oanda really needs to buck up where Customer Support is concerned because without us, where will you all be? They are totally unprofessional and not helpful at its best and just plain rude at its worst. No matter what, the customers are always right. Haven't you heard that? Oanda needs a serious personnel revamp and the HR Department should learn to hire people with good work ethics at least.